The Economic and Financial Crimes Commission (EFCC) extended an invitation to the CEOs of Zenith, Providus, and Jaiz banks on Tuesday.

This is occurring in the midst of a thorough investigation into an embezzlement scheme connected to Sadiya Umar-Farouq and Betta Edu, the current and former ministers of humanitarian affairs.

The Guardian was informed by sources that the bank executives provided the EFCC with records pertaining to accounts managed by the ministry of humanitarian affairs in order to bolster the current inquiry.

Dr. Ebenezer Onyeagwu of Zenith Bank, Haruna Musa of Jaiz Bank, and Walter Akpani of Provident Bank are the bank chiefs who have been invited.

According to anonymous sources close to The Guardian, the bank heads were present at the EFCC headquarters in Abuja on Tuesday.

The source claims that questions about the improper transfer of public funds into private accounts were posed to the banking executives.

Following their meeting with EFCC interrogators, our correspondent learned that the bank chiefs were released.

Edu and Farouq are accused of using their ministerial positions to approve large amounts of public funds that were transferred into private accounts. The EFCC is investigating this web of suspicious transactions.

Farouq is further accused of mismanaging N37 billion designated for the conditional cash transfer program during President Buhari’s administration.Farouq headed the Ministry of Humanitarian Affairs under President Buhari’s previous administration.

The insider disclosed that the blatant embezzlement of public funds was largely caused by the banks’ alleged intentional failure to report suspicious activity, a critical duty required by anti-financial crime laws and Central Bank directives.

As of the time of publication, EFCC Spokesperson Dele Oyewale could not be reached to confirm the development.